Walton plc wants to do their annual review of their weighted average cost of capital (WACC) for the purpose of application to new projects. Walton plc balance sheet is available for analysis: Financial position statement at January 2021 RM'000 RM'000 Non-current assets 4533 Current assets 2016 Total assets 6549 Equity finance Ordinary shares ($0.50) 600 Reserves- retained earnings 450 1050 Non-current liabilities 7% preference shares @$100 per share 900 8% bonds (irredeemable) 1950 10% bank loan ( 5 years) 1680 4530 Current Liabilities 969 Total Liabilities $4549 You are also given the following information: Yield on Treasury bills 6% Wren plc ( a similar company to Walton plc) equity beta 1.2 Equity risk premium 9.5 Current ex-div ordinary share price RM1.50 Current ex-div preference share price $0.63 Current ex-in the interest bond price (irredeemable bonds) RM110 Corporate tax rate 30% Required: Calculate the weighted average cost of capital (WACC) for Walton plc. (14 Marks) Comment on your result. (1 Marks)